7,500 Shares in Flex Ltd. (NASDAQ:FLEX) Acquired by Challenger Wealth Management

Challenger Wealth Management acquired a new position in Flex Ltd. (NASDAQ:FLEX - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 7,500 shares of the technology company's stock, valued at approximately $288,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Evergreen Capital Management LLC increased its holdings in Flex by 1.0% in the 4th quarter. Evergreen Capital Management LLC now owns 24,098 shares of the technology company's stock valued at $925,000 after buying an additional 246 shares during the period. Rockefeller Capital Management L.P. increased its holdings in Flex by 2.1% in the 4th quarter. Rockefeller Capital Management L.P. now owns 12,709 shares of the technology company's stock valued at $488,000 after buying an additional 266 shares during the period. Sage Rhino Capital LLC grew its holdings in shares of Flex by 1.1% in the 4th quarter. Sage Rhino Capital LLC now owns 35,378 shares of the technology company's stock worth $1,358,000 after purchasing an additional 374 shares during the last quarter. Arizona State Retirement System grew its holdings in shares of Flex by 0.4% in the 4th quarter. Arizona State Retirement System now owns 115,236 shares of the technology company's stock worth $4,424,000 after purchasing an additional 403 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its holdings in shares of Flex by 11.2% in the 4th quarter. Quadrant Capital Group LLC now owns 4,432 shares of the technology company's stock worth $170,000 after purchasing an additional 447 shares during the last quarter. Institutional investors own 94.30% of the company's stock.

Insider Buying and Selling at Flex

In related news, CAO Daniel Wendler sold 4,502 shares of the stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $41.99, for a total value of $189,038.98. Following the sale, the chief accounting officer now directly owns 38,676 shares in the company, valued at $1,624,005.24. This trade represents a 10.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Erin Mcsweeney sold 14,000 shares of the stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $41.94, for a total transaction of $587,160.00. Following the completion of the sale, the director now owns 22,299 shares in the company, valued at $935,220.06. This represents a 38.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 489,255 shares of company stock worth $19,589,788. Company insiders own 0.82% of the company's stock.

Flex Trading Down 0.9%

Flex stock traded down $0.40 during trading hours on Wednesday, reaching $42.08. 2,537,991 shares of the company's stock traded hands, compared to its average volume of 3,906,938. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.83 and a current ratio of 1.41. Flex Ltd. has a fifty-two week low of $25.11 and a fifty-two week high of $45.10. The firm has a market capitalization of $15.71 billion, a price-to-earnings ratio of 16.97, a PEG ratio of 2.43 and a beta of 0.96. The firm's 50 day moving average is $35.36 and its 200-day moving average is $37.96.

Flex (NASDAQ:FLEX - Get Free Report) last released its earnings results on Wednesday, May 7th. The technology company reported $0.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.69 by $0.04. Flex had a net margin of 3.95% and a return on equity of 17.93%. The company had revenue of $6.40 billion for the quarter, compared to the consensus estimate of $6.22 billion. During the same period in the prior year, the company posted $0.57 EPS. The company's revenue was up 3.7% compared to the same quarter last year. On average, analysts predict that Flex Ltd. will post 2.33 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Stifel Nicolaus assumed coverage on shares of Flex in a report on Tuesday, February 11th. They issued a "buy" rating and a $52.00 target price on the stock. JPMorgan Chase & Co. lowered their target price on shares of Flex from $52.00 to $40.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. KeyCorp upped their target price on shares of Flex from $35.00 to $44.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. The Goldman Sachs Group lowered their target price on shares of Flex from $53.00 to $41.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Finally, Barclays upped their price target on shares of Flex from $49.00 to $50.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $45.33.

Flex Company Profile

Flex Ltd. provides technology, supply chain, and manufacturing solutions in Asia, the Americas, and Europe. It operates through three segments: Flex Agility Solutions (FAS), Flex Reliability Solutions (FRS), and Nextracker. The FAS segment offers flexible supply and manufacturing system comprising communications, enterprise and cloud solution, which includes data, edge, and communications infrastructure; lifestyle solution including appliances, consumer packaging, floorcare, micro mobility, and audio; and consumer devices, such as mobile and high velocity consumer devices.